- The global liquid detergent market reached a value of $24.3 billion in 2017.
- The global liquid detergent market share projected to reach $35.5 billion by 2024, expanding at a CAGR of 5.6% during 2019-2024.
- Key players include Procter & Gamble, Henkel, Unilever, Church & Dwight and The Clorox Company.
The global liquid detergent market has witnessed a positive growth in the recent years. This can be attributed to the rising demand for washing machines, growing environmental concerns, inflating income levels of the consumers, and innovation in packaging and marketing by the manufacturers.
The latest report by IMARC Group, titled “Liquid Detergent Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the liquid detergent market reached more than $25.6 billion in 2018. Liquid detergent refers to a cleansing agent which is usually employed for removing dirt and emulsifying oils from delicate fabrics. It is composed of builders, surfactants, enzymes, bleach, soil anti-redeposition agents, foam regulators, corrosion inhibitors, fragrances, dyes, fillers and formulation aids. Stabilizers may be added to this blend so as to ensure the uniformity of the finished product. In comparison to powder detergent, liquid detergent does not accumulate in the textile fibers or in the washing machine due to the absence of hard ballast substances. In addition to this, it is highly efficient and can be easily used in both warm and cold water owing to which liquid detergent is gaining popularity.
Rising concerns about environmental sustainability has encouraged the manufacturers to adopt eco-friendly manufacturing techniques. This has resulted into the production of green products which are composed from natural substances such as plant-based enzymes, mineral- or coconut oil-based surfactants, etc. As these products are biodegradable, they are gaining traction among the consumers across the globe. Further, growing demand for washing machines owing to mounting household incomes and increasing purchasing power of the consumers has propelled the sales of liquid detergents. Additionally, growth in the e-commerce industry, innovative packaging formats, promotional offers and aggressive marketing by the manufacturers have been proactive in maintaining the growth of the liquid detergent market. Looking forward, the global liquid detergent market is projected to reach around $35.5 billion by 2024, expanding at a CAGR of 5.6% during 2019-2024.
Liquid Detergent Market Summary:
· On the basis of product type, the market has been bifurcated into inorganic and organic liquid detergents. Amongst these, inorganic liquid detergent represents the most popular product type due to well-established market and availability of different product variants at low cost.
· Based on end-use, the market has been segregated as residential and commercial sectors, wherein the commercial sector accounts for the majority of the total share.
· On the basis of the distribution channel, supermarkets and hypermarkets hold the largest market share due to the availability of a wide range of liquid detergents from different brands. Other major distribution channels include convenience stores, departmental stores and online.
· Region-wise, the market has been divided into Europe, Asia Pacific, North America, Latin America, and Middle East and Africa. Currently, North America is the leading market as a result of increasing demand for more efficient and biodegradable liquid detergents.
· On analyzing the competitive landscape of the market, it has been found that the key players include Procter & Gamble, Henkel, Unilever, Church & Dwight and The Clorox Company.
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